NewDay USA, one of the nation's leading VA mortgage companies, is hiring more than 100 new employees in the Baltimore area to meet soaring loan demand. The new recruits will be trained at NewDay USA University, the company's proprietary training facility, to become the next generation of mortgage bankers for the industry, the company announced in a press release.

NewDay reported its VA loan originations during the three months ending June 30 totaled nearly 2,500 loans with an aggregate principal balance of $576 million, a 32 percent jump over the prior quarter. The company has determined that a staff expansion of at least 100 new team members is necessary to support its growing volume and expects to welcome the new hires by the end of September, according to the release.

"Rates are retreating to near historic lows, which are creating an incredible opportunity for military families to refinance and reduce their mortgage payments by an average of $2,000 a year," retired Rear Admiral Thomas Lynch, chairman of NewDay USA, said in the release. "I am proud that we can help the families of veterans and active-duty service members save money through their VA loan benefits."

Many of NewDay's employees are recruited from local colleges after graduation. Once on board, new recruits receive an extensive mortgage education at NewDay USA University, the company's Ivy League-styled, in-house learning institution, where they are trained specifically to help military service members and veterans with their home financing needs.

"Our staff is one of the best-educated workforces thanks to the major investments we have made in NewDay University," NewDay USA founder and Chief Executive Officer Rob Posner said. "It's these high achievers who will be running the mortgage industry in the next decade, many of whom will remain in the area and continue contributing to Baltimore's economy."

Through its recruiting efforts, NewDay is creating the next generation of mortgage bankers in an industry where the average age for a loan officer today is nearly 47, according to data from STRATMOR GROUP.